I.P. Container Holdings (Spain) S.L. signed an agreement to acquire Packing Factory in Tangier from Papeles y Cartones de Europa, S.A. (BME:PAC) for €40 million on June 28, 2017. The transaction has been approved by the Conseil du Concurrence, the anti-trust authority in Morocco. Ghita Moussaid of DLA Piper acted as legal advisor to Papeles y Cartones de Europa, S.A.. I.P. Container Holdings (Spain) S.L. cancelled the agreement to acquire Packing Factory in Tangier from Papeles y Cartones de Europa, S.A. (BME:PAC) for €40 million on June 28, 2018.